Luxury Single-Family Home Sales Increase 35.4 Percent in April, While Luxury Condo Sales Drop 40 Percent from April 2015
Posted by Douglas E. Lierle — May 19, 2016
DENVER, CO - Kentwood Real Estate has released the company’s comprehensive real estate statistics for April for condominiums in downtown Denver, single-family homes, luxury residences, and market data for Greenwood Village, Cherry Hills Village, and the Cherry Creek neighborhoods. Kentwood’s latest report shows that luxury single-family home sales increased 35.4 percent from April 2015 with 88 closed sales, while luxury condo sales decreased 40 percent compared to the same period last year.
There is currently a total of 795 million dollar residential and condo properties in the metro Denver area, with Kentwood Real Estate holding a 14 percent market share with 113 million dollar listings. Closed sales volume for luxury residences was $135,881,523, while closed sales volume for luxury condos was $3,300,000, a 71.7 decrease compared to April last year. Following are details for April 2016.
Average Sales Price for Luxury residences in April was $1,544,108 While Average Sales Price for Luxury Condos Decreased 52.8 Percent to $1,100,000
The average sales price for single-family luxury homes increased 1.3 percent in April to $1,544,108. Average days on the market increased 17.1 percent to 123. Highest sold price was $3,950,000. There are a total of 743 active residential listings and a total of 199 million-dollar properties under contract.
Luxury condominium sales in April averaged 43 days on the market, which was an 89.3 percent decrease over April 2015. The highest sold price was $1,200,000. There are 52 active listings and six luxury condos currently under contract. Closed sales year over year decreased 58.3 percent, while the average sales price year over year increased 7.6 percent to $1,817,881.
Downtown Denver Condominium Closed Sales Increase 11.4 Percent from April 2015
Kentwood Real Estate’s latest real estate market data, which is gathered from the most reliable sources in metro Denver, shows that downtown Denver condominium sales increased 11.4 percent in April compared to the same period last year. Closed sales volume was $17,029,480 for April, a decrease of 26.7 percent over April 2015. The highest sold price in April was $1,200,000. The statistics show a total of 53 downtown Denver condominiums under contract in April and a total of 141 active listings.
Average days on the market decreased 48 percent to 26 in April. Average sales price decreased 34.3 percent to $436,653. For those seeking a carefree lifestyle downtown, Kentwood City Properties is conveniently located across from Union Station and visitors are welcome. You can enjoy open houses nearly every week and also enjoy virtual tours on the company’s website.
Market Recap for The Villages Shows Average Sales Price increase of 20.9 percent to $1,842,278
Kentwood Real Estate’s latest real estate market statistics for Cherry Hills Village and Greenwood Village for April shows the average sales price increased 20.9 percent over last April to $1,842,278. Closed sales decreased eight percent to 23 over April 2015. The highest sold price in April was $3,950,000, while the average number of days on the market increased 14.3 percent to 88. Closed sales volume was $42,372,278, an 11.2 percent increase over last April. Average price per square foot was $291 for a 19.8 percent increase over last April.
Currently there are 111 residential listings and 40 land listings in Cherry Hills Village and Greenwood Village. Kentwood Real Estate enjoys a 28 percent market share with 42 active listings. There is a total of 37 residential listings and no land listing under contract.
Average Residential Sales Price for Cherry Creek Neighborhood Increases 13.3 Percent in April
The average residential sales price for homes in Denver’s Cherry Creek neighborhood increased 13.3 percent to $1,086,889 compared to April 2015, according to data gathered by Kentwood Real Estate. The number of days on the market in April decreased 16.1 percent to 73, with closed sales volume totaling $9,782,000 for a 36.3 percent decrease over April 2015. Closed residential sales decreased 43.8 percent to nine. The highest sold price was $2,285,000.
Condominium sales for Cherry Creek totaled eight in April, which was a 14.3 percent increase over April 2015, with an average sales price of $467,930. The highest sold price was $947,000. Closed condominium sales volume was $3,743,440 in April. Average days on the market for April was 32 for a decrease of 23.8 percent from last year.
There are currently 78 residential and condominium listings in Cherry Creek and a total of 38 homes under contract.
About Kentwood Real Estate
Kentwood Real Estate is dedicated to building on its legacy of being “Colorado’s Premier Real Estate Company” through the highest producing, most knowledgeable, caring and experienced brokers in the country who offer the highest quality customer service experience. Kentwood Real Estate is an innovator known for unparalleled marketing strategies and superior Internet technology that places its clients in the best possible position. The company’s brokers each averaged more than $12 million in sales volume annually, which is ranked number one nationwide by the National Association of Realtors and REAL Trends.
Kentwood Real Estate is comprised of Kentwood Real Estate DTC, Kentwood Real Estate Cherry Creek, and Kentwood City Properties in downtown Denver. For more information, visit Kentwood Real Estate online at www.DenverRealEstate.com.